The borrower was a joint venture between JMC Holdings and RWN Real Estate Partners, which chose to opt for a fixed rate of 4.5 percent. The loan was made at a 60 percent loan-to-value.

A $2M capital investment in the property is planned, which will include new storefronts, signage and façade.

Located at the base of a Pre-War art-deco multifamily apartment building constructed in 1910, the property is home to Le Poisson Rouge, a nightclub in the basement floor that includes 15-ft. ceiling heights. CVS is the largest ground-floor tenant, occupying approximately 7,000 sq. ft. In total, seven retail tenants occupy the building.